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Solana rises as Solmate announces “aggressive” acquisition plans and spot ETF filings grow

Solana ETFs take the lion’s share of the ETF filings, with 23 waiting to be approved, per Bloomberg analyst Eric Balchunas.

Yaël Bizouati-Kennedy

Solana-based treasury and infrastructure company Solmate, newly rebranded from Brera Holdings, soared 40% on Thursday after CEO Marco Santori announced acquisition plans. Solana is also outperforming its peers on Thursday, up 4% in the last 24 hours.

The company said it would take an “aggressive” M&A approach, looking for candidates “across the solana value chain” that will “supercharge SOL-per-share growth.”

Santori told Sherwood News that Solmate is focusing on finding companies that don’t just generate revenue, but ones that will use its solana strategy to accelerate their business lines, including “other treasury and infrastructure companies.”

“We already have deep roots in the UAE but we are not limiting our search here,” he said, adding that the first acquisition will occur “very soon.”

Santori said solana, the sixth-largest crypto by market cap, is the “perfect treasury asset, because of its high growth, high volatility, and high native yield.” 

Meanwhile, Rex-Osprey filed an S1 form with the SEC for a solana ETF with staking, adding to a massive pile awaiting the US government to reopen. Solana ETFs take the lion’s share of the altcoin ETFs among the 155 filings, with 23 waiting to be approved, per Bloomberg analyst Eric Balchunas.

In other notable solana news, the total value of tokenized real-world assets on solana topped $700 million, a new all-time high.

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New bitcoin AfterDark ETF will be bitcoin at night, Treasurys by day

Tidal Trust II submitted form N-1A with the SEC to register a bitcoin ETF designed to systemically capture the cryptocurrency’s overnight return profile, a time window that delivered a significant portion of bitcoin’s upside last year.

The Nicholas Bitcoin and Treasuries AfterDark ETF provides long bitcoin exposure during US overnight hours, from the closing bell until the following morning’s market open, when the fund intends to unwind its positions, according to a document filed with the SEC on Tuesday. 

To gain that exposure, the ETF may use a number of methods, including bitcoin futures contracts, US-listed ETFs, or exchange-traded options on such bitcoin underlying funds. When the market is open and daytime trading is active, the fund’s portfolio will consist of US Treasury securities and other cash equivalents. 

In 2024, most of bitcoin’s gains occurred after-hours, senior Bloomberg ETF analyst Eric Balchunas reported:

The AfterDark ETF filing comes as bitcoin crossed $94,000 on Tuesday, rising 4.5% in the last 24 hours. Even though spot bitcoin ETFs saw nearly $60.5 million in outflows on Monday, the investment vehicles have a cumulative net inflow of $57.6 billion, per SoSoValue.

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